The head of the US Securities and Exchange Commission has said that in his opinion, all digital currencies that have an initial public offering or a pre-sale are considered securities, and exchange offices are likely to support the transactions of some of these securities.
to the Report CoinDesk, Gary Gensler, chairman of the US Securities and Exchange Commission, believes that most digital currencies that are publicly traded violate US securities law.
In a recent speech to the Aspen Security Association, Gensler said he agreed with Jay Clayton, who said he considered all digital currencies with initial public offering or pre-sale to be securities. Gensler said:
In general, those who buy these tokens expect to make a profit, and only a small group of entrepreneurs and technicians remain and support the projects. I believe we now have a digital currency market where many of those tokens are probably unregistered securities and there is no transparency or oversight in this market.
The regulator added that the tokens could allow the market to be manipulated, and that this would hurt investors first and foremost.
Gensler has previously said that he believes stable stock tokens and digital currencies backed by securities are securities themselves, which means they must be registered with the stock exchange commission and their issuers must comply with existing government regulations. To follow. He went on to clarify his previous statements:
A simple trading platform supports more than 50 tokens. In fact, many of them have more than 100 tokens. Given that the legal status of each token depends on its specific nature and status, it is highly unlikely that there will be any securities among the 50 or 100 tokens offered by each platform.
Gensler also made a brief reference to how the stock exchange commission deals with exchange-traded funds (ETFs). Over the past year, more than a dozen institutions have applied to the commission to set up a Bitcoin exchange-traded fund.
He noted that investment tools in digital currencies, including mutual funds, are already in place. He did not comment on his proposals, but stressed the importance of legislation to protect the rights of investors.
Referring to the Chicago Commodity Exchange, the head of the US Stock Exchange Commission said:
Given the importance of this support [قانونی], I’m waiting for the staff to review these requests [کمیسیون بورس] I am, especially if these are limited to those Bitcoin futures traded on the Chicago Mercantile Exchange.